232 Main Street #1
About This Property
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Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
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Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 13, 2024 | Sold | ||
| Sold | |||
| Mar 14, 2024 | In contract | - | |
| In contract | |||
| Mar 8, 2024 | Listed by Vadala Real Estate | $349,900 | |
| Listed by Vadala Real Estate | |||
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Large retail condo on Main Street in high visibility area! This storefront features high ceilings, floor to ceiling front windows, a newer gas furnace, off-street parking for one car, an attached garage for loading and deliveries and ample additional space, plus loft storage. Potential to subdivide the space. High traffic location in downtown Gloucester!
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| Jul 17, 2019 | No longer available | - | |
| No longer available | |||
| Mar 19, 2019 | Listed | $249,900 | |
| Listed | |||
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Highly visible commercial space currently used as a successful retail store. Large glass windows provide excellent visibility and exposure for retail goods and services. Street level space consists of 2,141sf of retail, restroom, office, and storage. New owner may be able to create a small residential studio apartment for their use only. This unit also includes 741sf of unheated 2nd floor space for storage and/or inventory of goods. An attached garage and 1-car parking at the rear of the building is also part of this unit. This unit is part of a 3 unit condominium complex that includes 2 residential units. The monthly condo fee for this unit is $165 which includes master insurance & exterior maintenance.The location of this commercial space has plenty of customer parking and foot traffic. CB zoning allows for a variety of uses including retail, food establishments, professional office. etc. The manager has listed the unit size as 2882 square feet.
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Property Highlights
Comparables
Status
Price/ft²
Listed On
Sold On
Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Listed By |
|---|---|---|---|---|---|---|---|
|
03/08/2024
|
Loft
|
1 Bath
|
2882 ft²
|
$349,900
Loft
1 Bath
2882 ft²
|
$350,000
+0.03%
05/13/2024
|
Mark Vadala
Vadala Real Estate
| |
|
03/19/2019
|
Studio
|
-
|
2882 ft²
|
$249,900
Studio
-
2882 ft²
|
-
-
|
-
| |
|
09/12/2017
|
3 Bed
|
1 Bath
|
1200 ft²
|
$145,000
3 Bed
1 Bath
1200 ft²
|
$127,500
-12.07%
10/31/2017
|
Stephanie Walsh
Better Homes and Gardens Real Estate - The Shanahan Group
|
Building Info
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017